Technical analysis of USD/CHF for September 20, 2017

USD/CHF is expected to trade with a bullish outlook above 0.9575. Despite the pair posting a pullback from 0.9650, it is still trading within the bullish channel. The key support at 0.9575 should limit the downside potential. Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.

To sum up, above 0.9575, look for a further advance to 0.9650 and even to 0.9680 in extension.

Chart Explanation: The black line shows the pivot point. The present price above the pivot point indicates a bullish position, and the price below the pivot points indicates a short position. The red lines show the support levels and the green line indicates the resistance levels. These levels can be used to enter and exit trades.

Strategy: BUY, Stop Loss: 0.9575, Take Profit: 0.9650

Resistance levels: 0.9650, 0.9680, and 0.9730

Support levels: 0.9545, 0.9510, and 0.9470

The material has been provided by InstaForex Company – www.instaforex.com

Source:: Technical analysis of USD/CHF for September 20, 2017